It’s no secret that college students make up the middle class nationwide, with more than one billion receiving a college credit card either as a joint college-affiliated student-guaranteed loan or a student-sponsored credit card. Student credit cards are now a part of daily life, and more and more students are opting for them. There are some basic differences between student credit cards and regular credit cards, however. Student credit cards have higher application fees and credit limits, while regular credit cards have higher fees and credit limits.
With college student credit cards, the credit limit for the student is the dollar amount each credit card holder can spend. Student credit cards do not have limit limitations, but the maximum student credit limit will depend on the credit card holder’s credit history. A student may not have an account with a major bank, or may not have the credit union of his/her parents, or perhaps the ability to establish a monthly minimum payment on any of the purchases on the card. With student credit cards, the student may be traveling under the card’s travel insurance, which includes zero miles on any purchases made from the card, or other travel insurance, either at the time of the purchase to make sure the purchase is a no-fault purchase, or a no-check purchase in case the customer fails to pay with the credit card due. If a student doesn’t have an account with an airline, or at least one that doesn’t regularly flies on college campuses, the student credit card may not be enough.
The main goal with any credit offer is to lower the costs or interest costs, which is the primary goal with regular credit cards. In addition, the student does not need to pay entire balance each week, as does the student credit card holder. If the student is traveling a lot and frequently pays full or part-time tuition fees, the student credit card could look more attractive.
Student credit cards also carry higher rates of interest than standard credit cards, and the student may have an ATM/SSL account. Although student credit cards do not have variable rates of interest, the rates are typically variable if the student is having trouble paying their bill. The terms of student credit cards should be flexible if students can’t make the minimum payments before the grace period expires. While one may expect a credit card holder to buy the minimum payment each billing cycle (student credit cards can buy the monthly minimum payment without grace periods), it is a prudent arrangement to try to help the credit card holder with the minimum amount required each month by providing a guarantee that monthly payments will only go toward paying off your monthly balances.
The Student Credit Card For College Students – The Wrong Choice
It shouldn’t come as a surprise to anyone to learn that student credit cards (or student credit cards) are a dime a dozen illegal to obtain without a license or ID. This is a complete loss for public policy and fraud prevention.
The Student Credit Card: A Gift From Economics 101
by Michelle Rippetoe
If the student is in need of a credit card the right student credit card will do the trick. Students aren’t just throwing gas on the fire of credit cards, they are also using student credit cards to increase their student credit limits. That is why students should take advantage of a secured student credit card to start the snowball effect off on a fulfilling budget. Remember the federal student credit card program was initiated in 1970, yet our nation’s credit card is still in operation. Student credit cards may be illegal under federal law, but for the IRS to enforce their law the law must be equally impressive. While not all student credit card offers are so good these days, it is a sure-fire way to increase your credit limit. Remember: if you have a student credit card, you will not spend more than the line on the statement.
By making wise use of all your student credit cards you can get help, a fresh start, and a new beginning.
Student Credit Cards: Student Loans Can Be Too Easy
Millions of children are in extreme poverty and are constantly under massive debt. Getting a credit card can be so easy, freeing up time for you could have fun while you wait for the credit card deals to be finalized. With all the new bills coming in, all the interest rates for loans, cash, and other fees, parents will be glad that they have a piece of plastic with them when they have to deal with the new stuff. If ever there was a time to be happy dad, now is the chance to prove himself to your child. You and the child will be able to be part of the solution through student credit cards.
There are many reasons why a parent chooses a student credit card with student perks.